Hay Market Key Players and Competitive Strategies, 2023

Global hay market is anticipated to witness an exponential growth in the forecast period. Hay is legumes, grass or the other herbaceous plants have been cut and dried to be kept for use as animal fodder, mainly for huge grazing animals raised as livestock, such as horses, cattle, sheep and goats. Though, it is also fed to smaller domesticated animals such as guinea pigs and rabbits.

Factors such as generation of internal heat, increasing demand, changing climatic conditions, harmless feeds to offer to domesticated grazing herbivores, increasing modern dairy farm, growing demand for animal and dairy products, development in high yielding cattle, decrease of the land for grazing of animals, increasing purchasing power of customers are likely to drive the Hay market in forthcoming period. On the other hand, being sensitive to weather it has safety issues as well as low nutritional values. This factor is anticipated to hinder the market growth in future. However, nutritive nature is likely to create lucrative opportunities for the market.

Hay market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. Market could be explored by product type, mixture of grass, application and geography. Market could be explored by product type as Hay Bales (small, large and Haylage), Hay Cubes and Hay Pellets.

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Based on mixture of grass, the Hay market could span ryegrass (Lolium species), brome, timothy, fescue, orchard grass, Bermuda grass, legumes, such as alfalfa and clovers (white, red, and subterranean). The key applications that could be explored in the market include Poultry Feed, Beef Cattle & Sheep Feed, Dairy Cow Feed and Pig Feed.

North America is a leading region in the market. It is likely to maintain its dominance in the forecast period. UAE, Saudi Arabia and China, are foremost importers of US exports. US and Spain are key exporters globally owing to large-scale commercial farms, and increasing grain prices.

Leading Key players operating in the Hay market include Border Valley, Anderson Hay & Grain, Knight Ag Sourcing, Bailey Farms, Hayday Farm, M&C Hay, Hay USA, Barr-Ag, Legal Alfalfa Products Ltd and Standlee. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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